recent regulatory changes in China have led to an outpouring of enthusiasm from investors and biopharmaceutical companies looking to gain a foothold in one of the world's major markets-a market that was, until recently, stymied by restrictions that barred pre-revenue biotech firms from listing on the Hong Kong stock exchange. That all changed earlier this year. "They didn't have a mechanism for a true publicly traded biotech sector, and that changed overnight," says Brad Loncar, a veteran biotech investor who recently launched an index fund for Chinese biopharma companies. "This is the beginning of a new era of biotech in China."
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